NEDFi signs MoU for tourism development

ITANAGAR, Sep 13: The North Eastern Development Finance Corporation Ltd (NEDFi) on Thursday signed a memorandum of understanding (MoU) with the Far East Tourism Development (FETD) Pvt Ltd to enable the FETD to raise and receive various rounds of funding through the NEDFi’s ‘east venture fund’ arm to develop tourism-related infrastructures, based on the feasibility and revenue generating viability of the projects to be proposed and carried out.
NEDFi Managing Director Paul B Muktiah and FETD managing director Bengia Seeker signed the MoU.
Naharlagun-based FETD, which was incorporated in October 2018, is the first tourism company in the Northeast with a wide range of project portfolios under various segments of the tourism industry.
The company aims to give a major boost to the tourism sector, particularly in Arunachal, where it remains largely untapped, by developing a robust tourism infrastructure.
“This agreement signifies a great opportunity to develop Arunachal’s tourism sector on a whole new level,” Seeker said.
He requested the state government to support his company’s endeavour by building good roads, good transport and communication facilities, and other basic facilities to make Arunachal a thriving tourism economy.
“It is already hard to bring in private investors, and without such basic facilities, the investment our company makes would be worthless,” he added.